Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, if he will make it his policy not to plan any reductions in the rate of corporation tax further to those he has already announced.

The Government has set an ambition of having the lowest rate of corporation tax in the G20, and by cutting to 17% by 2020 we are delivering this. The Government has no plans to reduce the rate any further but it needs to maintain the flexibility to take the necessary steps to ensure the UK economy remains strong and competitive.

As well as being competitive, taxes must be fair and paid. This Government has led international efforts to address tax avoidance by multinational companies, including through the OECD BEPS Project, and remain committed to tackling this issue.